Insurance renewal premium shocker today

[soFlaNative]

Allstate on home & auto in Fla.

What if the insurers also pull out of insuring cars in FL?

I have this fantasy of companies dropping homeowner insurance yet still write personal property policies be banned from doing business in the state.
Cherry picking the risks just rubs me wrong.

 

[old bear]

Just received my home ins. bill last week it jumped almost $400.00 .

 

[meaneyedcatz]

We had a year and half old Subaru forester and all was well as far as insurance goes. When the renewal came up we were shocked. We sold the car and it hurt so bad. I really liked that car and it was supposed to be our last vehicle.

Agent claimed it was because of Covid had finally caught up to the insurance companies and that has some validity.
I talk to insurance companies almost every day and heard all insurance companies have raised their premiums significantly over the past couple of years.

 

[Old 44 Guy]

Many, many years ago nobody had insurance , car, home etc. Then the insurance companies got the laws changer to make it required so all would pay. The rates would go down because everyone would pay. The insurance companies had all the money in the land, financed every new business, etc. The buzzards have come to roost. Sorry for the rant.

 

[wood714]

My biggest fear of hurricane season isn't the storms but the yearly homeowner rate increases if not being dropped completely even with no claims.

My home and auto insurance is insane. In the past 4 years my home policy has tripled.

I'm paying $314.66 a month for good coverage on a 2018 Tacoma, and a 2019 Rav4. My bike is $45.57 per month.

I do have $500 deductible on everything including hurricanes. All my friend hurricane deductible is on a percentage basis.

It would be tough to pay it all if my house wasn't paid off.

 

[SMSgt]

Just received my home ins. bill last week it jumped almost $400.00 .

Be happy with that. Here some are jumping $4000.

 

[JohnRippert]

Mine went from $487 to $518 for 6 months worth. Not too bad.

 

[DWalt]

Does anyone know for sure if EVs are commanding higher car insurance premiums than ICE vehicles for similar coverage? I'd expect that EV owners are taking more of a scalping.

 

[taz666]

Good question, all though it's still a "car". ... now if you factor in the autonomous driving aspects of some models into it ???

 

[Truckman]

Good question, all though it's still a "car". ... now if you factor in the autonomous driving aspects of some models into it ???

If the self-driver car drives itself, do you still need a license to be a passenger?......Ben

 

[DWalt]

If the self-driver car drives itself, do you still need a license to be a passenger?......Ben

And who will held liable if an autonomous vehicle(s) is involved in a crash and someone is killed? The litigation implications are enormous.

 

[Bald1]

I got an email from Progressive over the weekend. My motorcycle policy went down a little. My Polaris Ranger and HD Fatboy are both on that policy. No explanation why, but I'll take it. Everything else I insure elsewhere. But for bikes nobody seems to beat Progressive.

 

[BC38]

Does anyone know for sure if EVs are commanding higher car insurance premiums than ICE vehicles for similar coverage? I'd expect that EV owners are taking more of a scalping.

I'm sure they are - for at least 2 reasons I can think of, right off the top of my head...

1) EVs generally cost around about 1/3 more than a comparable gas vehicle. That means higher replacement costs for the insurer, which means higher premiums.

2) EVs are more likely to be declared "totaled" after relatively minor accidents because the battery may have suffered internal damage making it more likely to have a catastrophic failure, and they are REALLY expensive to replace. So the insurance company just totals the whole car - which means larger payouts.

If the insurer anticipates paying out more you can bet your behind that they are going to charge higher premiums - guaranteed.

 

[dockmurgw]

If the insurer anticipates paying out more you can bet your behind that they are going to charge higher premiums - guaranteed.

Yup, they will...for everyone. The fairness and equity warriors will see to that.
And then the climate warriors will demand lower premiums as a reward for saving the plant.

 

[Telecaster]

Got ours today, up 52%.

 

[ladder13]

3 cars, up -11%